From bullion market to MCX, today the shine of precious metals has suddenly increased a lot. If you are planning to buy jewelery or invest, then you will have to loosen your pocket a bit. Today, gold prices have registered a rise of Rs 1,024, while silver has seen a huge jump of Rs 3,257.
There was a boom in the futures market
Heavy buying was seen in August 2026 gold futures deals on MCX since this morning. By 9:54 am, the price of 10 grams of gold reached the level of Rs 149,956. This is a direct increase of Rs 1,024 or 0.69 percent compared to the previous closing price. According to market experts, the effect of ‘short covering’ is clearly visible here. Those traders who had earlier sold in the hope that the prices would fall, are now quickly closing their positions after seeing the rise. This panic has pushed the prices of gold even higher.
Silver also gained momentum
Not only gold, silver has also completely surprised investors. There is a tremendous bullish atmosphere in the silver futures of July 2026. Till morning, the price of one kg silver was trading at Rs 242,910. This is a big jump of Rs 3,257 or 1.36 percent. Like gold, there is a situation of short covering in the silver market also. Traders who had anticipated the decline are now buying immediately to avoid losses, due to which the prices of silver are continuously rising.
Impact on customers’ pockets in retail market
This movement in the futures market has had a direct impact on the retail bullion markets of our cities. Today, on June 12, 2026, gold has become costlier by Rs 820 and is being sold at Rs 150,360 per 10 grams in the retail market. This is an increase of 0.55 percent. At the same time, silver has also left gold behind in the retail market. There has been a huge increase of Rs 2,500 in the price of silver. After this, the price of one kg silver has reached Rs 243,960. That means an increase of 1.04 percent has been recorded in silver.
Disclaimer: This article is for information only and should not be considered as investment advice in any way. TV9 Bharatvarsha advises its readers and viewers to consult their financial advisors before taking any money-related decisions.
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